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| --- | --- | --- | --- |
|  | 3.1.1 |  | the Seller of each Aircraft agrees to sell such Aircraft to the relevant
Purchaser of such Aircraft, and such Purchaser agrees to purchase such Aircraft from
such Seller in an “as is, where is” condition; |
|  |
|  | 3.1.2 |  | the Seller of each Aircraft shall pass to the relevant Purchaser on the
applicable Delivery Date full legal and beneficial and good and marketable title to
such Aircraft with full title guarantee (except in relation to Aircraft No. 3, in
respect of which, the provisions of Clause 3.7 apply), subject in each case to the
Novated Lease and Permitted Liens but free and clear of all other Security Interests.
Title to each such Aircraft shall pass to the relevant Purchaser in accordance with
Clause 7.1 (*Delivery*); and |
|  |
|  | 3.1.3 |  | It is the intention of the Sellers and the Purchasers that
Aircraft No.5 shall
be the first Aircraft sold by the relevant Seller to the relevant Purchaser under this
Agreement and if such sale is not consummated by the Final Delivery Date, then unless
otherwise agreed by the parties to this Agreement, the relevant Seller shall not be
obliged to sell any Aircraft to the relevant Purchaser and the relevant Purchaser shall
not be obliged to purchase any such Aircraft from the relevant Seller under this
Agreement. |